GBP/USD broke strong resistance level 1.4240

GBP/USD broke strong resistance level 1.4240

  • GBP/USD broke strong resistance level 1.4240
  • Next buy target - 1.4400

 GBP/USD recently broke through the strong, multi-month resistance level 1.4240 (which has been reversing the pair from the end of January).  The breakout of this resistance level accelerated the active minor impulse wave (iii) – which belongs to the impulse wave 3 from March. GBP/USD is expected to rise toward the next buy target at the next resistance level 1.4400 (intersecting with the weekly up channel from last year).



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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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